{"id":3919,"date":"2015-10-19T07:14:20","date_gmt":"2015-10-19T07:14:20","guid":{"rendered":"http:\/\/www.oilnewskenya.com\/?p=3919"},"modified":"2017-01-27T12:46:31","modified_gmt":"2017-01-27T12:46:31","slug":"tata-petrodyne-seals-farm-out-transaction-with-swala-energy-after-payment-of-5-7-million","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/tata-petrodyne-seals-farm-out-transaction-with-swala-energy-after-payment-of-5-7-million\/","title":{"rendered":"Tata Petrodyne seals farm-out transaction with Swala Energy after payment of $5.7 million"},"content":{"rendered":"<p>Swala Energy Limited has confirmed that US$5.7 million has been received from Tata Petrodyne Limited (TPL) pursuant to the farm-out transaction with TPL for the Kilosa-Kilombero and Pangani licences in Tanzania.<\/p>\n<p>This was one of the outstanding <a href=\"http:\/\/ow.ly\/Tz0et\">terms<\/a> of their farmout agreement for the Kilosa-Kilombero and Pangani licences in Tanzania that were finalized last week by subsidiary Swala Oil and Gas (Tanzania) Plc and Tata Petrodyne Limited.<\/p>\n<p>Under the terms Tata was to proceed to payment of the reimbursable past costs of US$5.7 million, due within five working days from Completion, and to the transfer of licence working interest in the two licenses.<\/p>\n<p>This means that the newequity in the licences shall be:Swala Energy Tanzania Limited 50%, Swala Energy 25% and Tata Petrodyne Limited 25%.<\/p>\n<p>Swala Energy is serving a one year\u00a0<a href=\"http:\/\/ow.ly\/T9MAl\">extension<\/a>\u00a0on each of its licenses by the Tanzanian Ministry of Energy and Mining (MEM) within which an exploration well must be drilled in each of the Kilosa Kilombero and Pangani licences in Tanzania to the 20th February 2017.<\/p>\n<p>(TPL) pursuant to the farm-out transaction with TPL for the Kilosa-Kilombero and Pangani licences in Tanzania.<\/p>\n<p>This was one of the outstanding <a href=\"http:\/\/ow.ly\/Tz0et\">terms<\/a> of their farmout agreement for the Kilosa-Kilombero and Pangani licences in Tanzania that were finalized last week by subsidiary Swala Oil and Gas (Tanzania) Plc and Tata Petrodyne Limited.<\/p>\n<p>Under the terms Tata was to proceed to payment of the reimbursable past costs of US$5.7 million, due within five working days from Completion, and to the transfer of licence working interest in the two licenses.<\/p>\n<p>This means that the newequity in the licences shall be:Swala Energy Tanzania Limited 50%, Swala Energy 25% and Tata Petrodyne Limited 25%.<\/p>\n<p>Swala Energy is serving a one year\u00a0<a href=\"http:\/\/ow.ly\/T9MAl\">extension<\/a>\u00a0on each of its licenses by the Tanzanian Ministry of Energy and Mining (MEM) within which an exploration well must be drilled in each of the Kilosa Kilombero and Pangani licences in Tanzania to the 20th February 2017.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Swala Energy Limited has confirmed that US$5.7 million has been received from Tata Petrodyne Limited (TPL) pursuant to the farm-out transaction with TPL for the Kilosa-Kilombero and Pangani licences in &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/tata-petrodyne-seals-farm-out-transaction-with-swala-energy-after-payment-of-5-7-million\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":3921,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[11],"tags":[1327,1966,2447,3696,2466,3266],"class_list":["post-3919","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-kilosa-kilombero","tag-pangani","tag-swala-energy","tag-swala-energy-tanzania-limited","tag-tanzania","tag-tata-petrodyne-limited","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/10\/Tata-Swala.jpg?fit=200%2C200&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-11d","jetpack-related-posts":[{"id":3888,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-completes-farm-out-of-kilosa-kilombero-and-pangani-licence-interests-to-tpl\/","url_meta":{"origin":3919,"position":0},"title":"Swala Energy Completes Farm-Out Of Tanzania&#8217;s Kilosa-Kilombero And Pangani Licence Interests To TPL","author":"","date":"October 8, 2015","format":false,"excerpt":"Swala Energy has announced that its subsidiary Swala Oil and Gas (Tanzania) Plc and Tata Petrodyne Limited (TPL) have finalised the outstanding terms of their farmout agreement for the Kilosa-Kilombero and Pangani licences in Tanzania. Following by the finalization the parties shall now proceed to payment of the reimbursable past\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/swala-energy-1.jpg?fit=650%2C451&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/swala-energy-1.jpg?fit=650%2C451&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/swala-energy-1.jpg?fit=650%2C451&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":3036,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-energy-completes-farm-tanzanian-licenses-tata-petrodyne\/","url_meta":{"origin":3919,"position":1},"title":"Swala Energy Completes farm-out of Tanzanian Licenses to Tata Petrodyne","author":"","date":"June 1, 2015","format":false,"excerpt":"Swala Energy Limited has announced that Swala Oil and Gas (Tanzania) Plc has reached agreement with Tata Petrodyne Limited a subsidiary of the multinational Tata Sons Limited, under which TPL shall farm into the Pangani and Kilosa-Kilombero licences in Tanzania. Tata Sons Limited is the holding company of the Tata\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/swala-energy-1.jpg?fit=650%2C451&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/swala-energy-1.jpg?fit=650%2C451&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/swala-energy-1.jpg?fit=650%2C451&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":3217,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-energy-gets-ministerial-consent-tanzania-farm-outs\/","url_meta":{"origin":3919,"position":2},"title":"Swala Energy gets Ministerial Consent for Tanzania Farm-Outs","author":"","date":"August 6, 2015","format":false,"excerpt":"Swala Energy Limited has reported that its subsidiary company Swala Oil and Gas (Tanzania) Plc has received a no objection notice from the Tanzanian Ministry of Energy and Mines to the farm-out of 50% of its interests in the Kilosa-Kilombero and Pangani licences to Tata Petrodyne Limited (TPL). The consent\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/swala-energy-ears.png?fit=329%2C474&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":5424,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tata-petrodyne-farm-in-behind-swala-otto-energy-dispute-in-tanzania\/","url_meta":{"origin":3919,"position":3},"title":"Tata Petrodyne Farm-in behind Swala, Otto Energy dispute in Tanzania","author":"","date":"November 23, 2016","format":false,"excerpt":"A simmering dispute between two Australian companies Swala and Otto Energy in Tanzania could have emanated from a failed joint farm-down by Tata Petrodyne Limited. According to Swala Energy in it latest presentation to shareholders the two joint venture partners had earlier agreed on a joint farm-down by Tata Petrodyne\u2026","rel":"","context":"In &quot;Oil Politics&quot;","block_context":{"text":"Oil Politics","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/oil-politics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/10\/Tata-Swala.jpg?fit=200%2C200&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":3044,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-energy-receives-funding-hayaat-international-exploration-east-africa\/","url_meta":{"origin":3919,"position":4},"title":"Swala Energy receives Funding from Hayaat International for exploration in East Africa","author":"","date":"June 3, 2015","format":false,"excerpt":"Swala Energy has received interim funding from Hayaat International Limited a cornerstone investor who holds an equity interest of 9.2% of the Company. The loan is to be made available in two equal tranches and is repayable from the proceeds of the farm-outs with Tata Petrodyne Limited TPL which farmed\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/05\/Swala-Energy.png?fit=455%2C492&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":4042,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-energy-awards-drill-support-contract-in-tanzania\/","url_meta":{"origin":3919,"position":5},"title":"Swala Energy Awards Drill Support Contract in Tanzania","author":"","date":"November 4, 2015","format":false,"excerpt":"Swala Energy has announce that its partly-owned subsidiary, Swala Oil and Gas (Tanzania) the operator of the Kilosa-Kilombero and Pangani licences, has awarded the Drill Support Team contract for the 2016 drilling campaign to the Tanzanian subsidiary of AWT International (Asia) Sdn Bhd, a Singapore-headquartered firm offering subsurface, subsea and\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/swala-energy-1.jpg?fit=650%2C451&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/swala-energy-1.jpg?fit=650%2C451&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/swala-energy-1.jpg?fit=650%2C451&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/3919","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=3919"}],"version-history":[{"count":2,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/3919\/revisions"}],"predecessor-version":[{"id":5423,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/3919\/revisions\/5423"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/3921"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=3919"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=3919"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=3919"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}